File #: 2003-0502    Version: 1
Type: Archive - Finance Status: Passed
File created: 12/2/2005 In control: City Council Regular Meeting
On agenda: 10/1/2003 Final action: 10/1/2003
Title: Adoption of 2004 Budget - Enterprise Fund
Indexes: Budget
Title
Adoption of 2004 Budget - Enterprise Fund
 
Body
Whereas, in accordance with the provisions of Public Act 2 of 1968, Public Act 621 of 1978, the Uniform Budgeting and Accounting Act for Local Government, and the Charter for the City of Rochester Hills, Chapter III, Section 3.2, the Mayor as the Chief Executive Officer shall prepare the budget proposal for the ensuing year and shall submit it to the Council at its first meeting in August; and
 
Whereas, at its August 6, 2003 meeting City Council acknowledged receipt from the Mayor of the proposed 2004 Budget Plan and set a Public Hearing to be held September 3, 2003 at 7:30 p.m. to hear comments on the proposed Budget Plan; and  
 
Be It Further Resolved, that the City Council of the City of Rochester Hills hereby adopts the Sewer Fund Budget for 2004 as follows:
 
Retained Earnings      $      2,142,982
Licenses & Permits      $      5,150
Charges for Service      $      9,323,280
Fines & Forfeitures      $      35,000
Investment Earnings      $      78,600
Other Revenue      $      10,345,500
 
Total Sewer Fund Revenues      $      21,930,512
Total Sewer Fund Expenditures      $      21,930,512
 
Be It Further Resolved, that the City Council of the City of Rochester Hills hereby adopts the Water Fund Budget for 2004 as follows:
 
Retained Earnings      $      1,790,434
Licenses & Permits      $      20,200
Charges for Service      $      12,782,200
Fines & Forfeitures      $      50,000
Investment Earnings      $      98,655
Other Revenue      $      9,520,000
 
Total Water Fund Expenditures      $      24,261,489
Total Water Fund Expenditures      $      24,261,489
 
Grand Total Water & Sewer Fund Revenues      $      46,192,001
Grand Total Water & Sewer Fund Expenditures      $      46,192,001